LONDON (Reuters) - The chief executive of the London Stock Exchange (L:LSE) shrugged off concerns about the health of London's market for initial public offerings (IPOs), saying that it remains "very active".
London had been a hot spot for IPOs in the first half of the year, when European listings raised $41.2 billion, up almost 250 percent year on year.
But the market cooled in the third quarter and a string of companies, including British bank Aldermore and car dealer BCA, have pulled or postponed planned listings, citing tough market conditions.
Advisers said recent market turmoil had deterred investors from putting money into untried stocks, forcing many companies to consider delaying their flotations until next year.
Speaking at a Reuters China Summit event on Tuesday, LSE Chief Executive Xavier Rolet said the slowdown started in September, when uncertainty around Scotland's independence referendum rattled investors, but insisted that the effect would be temporary.
"London continues to be a very, very active and successful IPO market ... even looking to the recent (market) gyrations," Rolet said. (Reuters Insider: http://reut.rs/1tBouiR)
"Our IPO market has remained vibrant and we continue to do IPOs almost on a daily basis."
Rolet said that those deals mostly involved companies listing on its junior AIM market but he expects flotations on the LSE's main market to bounce back in the near future.
"London simply has the largest investable pool of international equity assets in the world. London is still on top," he said
(Reporting by Clare Hutchison; Editing by David Goodman)